Solved

If a Country's Population Increases While the Supply of Farmland

Question 108

Multiple Choice

If a country's population increases while the supply of farmland is fixed, then farmland prices will most likely


A) decrease because people spend more money on food and have less to spend on rent
B) increase because the marginal revenue product of food decreases
C) decrease because farmers must cultivate less productive foods such as potatoes
D) increase because the marginal revenue product of land increases
E) stay the same because there is no relation between farm land prices and population

Correct Answer:

verifed

Verified

Unlock this answer now
Get Access to more Verified Answers free of charge

Related Questions

Unlock this Answer For Free Now!

View this answer and more for free by performing one of the following actions

qr-code

Scan the QR code to install the App and get 2 free unlocks

upload documents

Unlock quizzes for free by uploading documents